Being Rich or Being Financially Free

Being Rich or Being Financially Free

My thoughts today are inspired by Robert and Kim Kiyosaki. They talk often about financial freedom. Most people just want to be rich. Who wouldn’t you ask? Well I propose that being free is better.

Being rich sounds great. We all want to be rich. Many people are rich but only on paper. Their time is not their own. If they don’t get up and go to work, they don’t get paid. They may have a “great job” with a big salary, but what happens if they stop working? They don’t get paid. This means that they are just as trapped in the Rat Race as the poor and middle class. It’s just that their cage is prettier and filled with nicer things. Robert Kiyosaki calls it the “chicken coop”. The bird in the gilded cage is still caged. Unable to control their time, still trading hours for dollars. No work, no money. However great their career,, it is still just a J.O.B.(just over broke). They may have more means, but they are still living too close to the edge.

What I have learned and continue to learn is that the real secret is building financial freedom. Cashflow is king. Learning how to generate cashflow whether you get out of bed today or not the goal. This is called developing.  Building assets that work for you even when you are not working. Sounds easy enough? Maybe. The first step is learning the difference between an asset and a liability. Once you understand this, then you have the foundation on which to build.

The next step that I encourage everyone to take is to pay yourself 1st. Both Robert and Kim Kiyosaki talk about this in their books. They recommend setting up 3 accounts: Saving, Tithing and Investing. Place an equal amount into each column every time you get paid. Make it an amount that is just outside your comfort zone: too little and you will not notice the benefit, too much causing financial hardship. By doing this you are not only building your assets, but you are also learning self discipline that will serve you well in any business endeavor you choose.

Money is a tool that can be used to better yourself and the world you live in. Creating developing and financial freedom is not something that happens overnight, There is no get rich quick scheme. It takes time, commitment and discipline. The most important requirement is knowledge. Seek to learn something new each day. Read a book, listen to a CD, watch a video. Whatever works for you. There are vast resources out there for those willing to seek them out. Most of all, enjoy the journey and the wisdom it brings.



Source by dawn gilcrest

How To Leverage Your Time And Create Multiple Streams Of Income Online

“How can you increase your online wealth through exponential growth without having to spend more money or without having to wait a lifetime for your small nest egg to doubles itself into a small fortune?”

Most of us don’t have much money but one thing we all have is time.  So, how can we leverage our time and multiply our income and work smarter not harder so we can create the freedom and lifestyle we want much faster.

How do we go about working smarter not harder?

The key to making multiple streams of Call to action online is to diversify your services or products a person should not have only one source of Call to action online but multiply sources.

In a nutshell, the idea is pretty simple :

  1. Find a niche and create ONE product that focuses on it. (e.g. Niche A)
  2.  Expand “horizontally” to create other related products. (Niche A product lines)
  3.  After you’ve exhausted your options for related products, expand “vertically” to create ONE NON-RELATED product.  (e.g. Niche B).

Next, you can again repeat step 2 for Niche B product line and so on.

Get the idea yet?

Let’s assume that you have captured a fair amount of leads and built a list through your free offers, free e-courses, free reports, free trials etc from your first product (the front end product) that you have created yourself or become an affiliate of someone else’s product or services. While you are satisfied getting the initial sale from your  paying customers at this stage, do you stop selling there?

These are your “happy” customers that you want to take care of  by offering them more and more. It’s much easier to sell more things to your existing customer base than find new customers. You can expand your product lineup (backend products) that are related to the same Niche and promote to these customers. Again, if you don’t have time or know how to create your own products, there are many affiliate programs out there that offer the related niche product you want.

The best time to sell your backend products is

  1. immediately after the initial sale
  2. during the check out process as an added option
  3. special offer or recommendation by follow-up mails

Backend selling is where the real big profits are. The idea is to sell as many different related products to your existing customers  and at the same time, continues to generate new customers on your front end product (Niche A).

Whilst you’ve created and expand your niche horizontally, it is now time to move on to other niche market to expand vertically to multiply your profits by attracting new set of customers.  You simply repeat the process again. That’s how you can generate the maximum amount of profit possible with the minimum amount of effort. 

There are many benefits to creating multiple streams of income like more money, security, if a problem happens with one line of income you have several to fall back on.  If you already have a stream of passive stream income from the internet coming in that is good, but take the time to see if you can generate that into multiple streams, which will be even better.



Source by Kimberly Anne

Real Estate: What is Net Worth?

The term “Net Worth”. What exactly is that? Net worth is simply the sum of assets minus the liabilities. This, however, simply does not state the whole story. Each year, Forbes magazine shows the distribution of net worth for the United States.

The Forbes graph shows that 86% of the people make $250,000 or less each year. Yet, this constitutes only 26% of the net worth pie. Only 10% of the population makes more than $350,000 per year, yet that 10% is controlling 68% of the net worth of this country!!

These statistics are not meant to upset you. I would however like you to keep them in the back of your head as you read through this guide. So you understand how most of the money is made in America.

Most people make their income linearly, which means they have a “Linear-income”. This simply means that for every hour they work they get an X amount of income.

With a linear-income a person must keep working if they want to keep getting paid. In the United State the average person works a 40-hour workweek not to mention all the other time spent away from the home due to having to work. Let’s say that the average is 50 hours per week.

If you consider that the average person gets 2 weeks of vacation, you will see that 2500 hours per year are spent on the job. Take those hours over the typical 45-year work span, and you will have worked 112,500 hours!!

If you could go back and average all the income over that 45-year period, you might find statistics like this:

o Average Annual Salary of $30,000 is equivalent to $12/hour before taxes and a mere $7.80 after taxes (assuming a 35% rate of taxation)

o Average Annual Salary of $40,000 is equivalent to $16/hour before taxes

o Average Annual Salary of $50,000 is equivalent to $20/hour before taxes

When you look at the examples above, there is a pattern that might catch your eye.

For each $10,000 more made per year, you can add $4/hour to your hourly rate of pay. I can almost guarantee you that if you follow this type of system to make your money, you will have a very difficult time becoming wealthy.

Everyone has heard of diversification, especially when talking about finances. If you choose stocks, you are told to diversify. Why? Because it is too risky to put all your eggs in one basket – this is simple logic.

And yet, if you look at most people today they almost always have “all their eggs in one basket”. What I’m talking about of course is most people have only one way of getting income: their job.

Most people have ONE paycheck that goes into a bank and then comes out of the bank for a variety of fixed expenses. The only diversification in this picture is the number of ways the money flows OUT of the bank! If your cash flow fails due to sickness or inability to perform the given tasks, you will lose all of your assets.

So, what’s better than linear income? Why it’s residual income of course!

Residual Income is income that keeps coming in month after month, year after year, from work you do just once. An example of this is income received from stocks or government bonds.

It keeps coming and you don’t have to work for the government.  Another example is a royalty paid over the rights of an invention or a song. You keep receiving income for that song and you don’t have to keep singing every time to collect. The best way to build your financial freedom is by securing residual income from many sources.

Now, to clarify, not all residual income is learn. In fact, most residual income has some “residuality.” Don’t try looking that word up in the dictionary – it is my own creation.

The residuality of an income source refers to the extent that you have to put effort into establishing a cash flow. Some forms of residual income are labor intensive in the beginning, some in the middle and some at the end.  I do not believe in completely passive residual income – you should always have control and take charge of all of your income sources.

Regardless of the residuality of the income you choose, the benefits of residual income are excellent:

o Control your own income

o Creating security

o Being able to set your own priorities

o Great tax advantages

Remember that I said it was important to diversify. First, you need to develop three sources of residual income. This will provide you with a variety of ways to feed your asset base.

What exactly is an asset? For the purposes of this book, an asset is something that has positive cash flow and goes up in value over time.

Then make sure your residual income equals three times your original linear income. Yes, three times. This will provide you with a cushion.

The last part of the of the rule concerns taking transitional steps towards creating residual income. You are not going to be able to replace your linear income with residual income all at one time, so taking transitional steps will be necessary.

I suggest looking at your lowest necessary bill. Let’s say it is your phone bill at an average of $50/month or $600 per year.

In order to earn residual income of $600/year, you might consider purchasing a $12,000 municipal bond earning 5%. How will you purchase this bond? By taking 10% of your gross income off the top and placing it into a “mini-asset category” until you can get the $12,000.

Once done, you will not have the payment per month and that money can then be put into your asset category as well. Stocks and bonds, as you can see, are very capital intensive, but over time, will be able to pay all your fixed expenses.

I hope you enjoyed this blog article.

To your financial success,

Peter Wolfing



Source by peterwolfing

Asset and Liability – Uncovered

For years, I’ve been spending my money and time acquiring things which I believe an asset. I guess most of the populations are also doing the same, busy acquiring things which they think as an asset and could make a very good investment.

All this have changed after I read books by Robert Kiyosaki, the famous author of books Rich Dad Poor Dad and Cashflow Quadrant. I began to realize the mistakes and misconceptions about asset and liabilities. My mind was opened to the world of big possibilities and endless opportunities.

Asset, as described by Mr. Kiyosaki on his book, is something that produces income. It may be a house, car, real estate or anything, as long as it gives your revenue.

Liabilities on the other hand, is something that when we acquire, it continue to take up portion of our money. It may be due to maintenance, monthly dues, or whatever reason that we are paying for that thing.

The explanation was quite simple and straightforward, but when you analyze it, you will learn the great mistakes most people are doing. Then I began to analyze everything that I have acquired in the past few years. And guess what, I am a foolish guy acquiring liabilities but thinking it as an asset.

Is your house an asset? If someone is renting on it and gives you monthly income, then it is. But if it’s something that never gives you any money, it’s a liability. Plus the fact that you also pay maintenance and other bills to keep the house in good condition.

Is your car an asset? Unless you use it as taxi that earns income everyday, it is never an asset. It’s a big liability where you have to pay for all the maintenance and high price of gasoline.

Is your land an asset? Unless your land has something in it that gives you extra income, it’s a liability. Who will pay for the taxes of that property? The answer is you, taking your savings to pay the taxes.

Is my condo a good investment asset? Same with your house. If somebody is renting it, then it’s a very good asset that can give you . But if not, it’s a big liability.

And the list goes on. You may also try asking yourself what you have right now and see if it’s an asset or liabilities.

Most of the people are well educated technically, especially on the field of our expertise. We are a very good employee that makes our company grow bigger and richer. But in the end, all we want is to have a financial and time freedom to enjoy life.

The big question now is, what are you doing to achieve those dreams? The only way to get out of this so called Rat Race is start acquiring assets that could give you extra earnings passively. And when the time came that you have enough , you can now retire and focus with your financial and time freedom.

This is how things should work if we want to enjoy life to it’s fullest. Most of the people are not going to that direction; they just usually follow the crowd. Unfortunately, those who follow the crowd usually get lost.

The first step is to understand how money works and how to make money work for you. Not you working for money like most of us are doing. Start empowering yourself and invest on education. Join me in helping people and start empowering their entrepreneurial skills thru the government program OFW BUSINESS opportunity.

Five years from now, can you see any significant changes that might happen along the way that can change your life? If none, you better start thinking about it. Call me and we’ll discuss about it.



Source by Richard Macalintal

Income Leveraging and Wealth Cycles

With everyday that passes the value of leveraged income increases. This type of income is a growing force in the economy of North America. By the droves, people approach the horizon of retirement and discover they cannot set that long awaited date. Diminished retirement plans and the inability of most to set aside adequate amounts for retirement days keep a growing number in the work force far beyond their intentions. The United States had a negative one percent savings rate last year. In the corporate world mergers and other shifts leave people without the job upon which they once depended. This opens the door for substantial growth in the e-commerce of network marketing. Recently reported in a home business publication was the finding that 175,000 people are joining a network marketing business each week. Seventy percent of these people are women. Many of these women are professionals who want out of corporate America. They want their lives back. There earning power is good, it just is not enough and the price is too high.

What does this say for those who offer network marketing? It speaks volumes! Journalist, Malcolm Gladwell in his book, “The Tipping Point”, discusses how small-scaled events can create enormous change, both socially and economically. Economist, Paul Zane Pilzer, in “The Wellness Revolution”, predicts the health and wellness industry will be the next trillion dollar industry. These indicators support the idea that entrepenturers seeking a new channels for income will be looking very closely at an opportunity with a developed business model for both full-time and part-time endeavors. Those business enterprises that develop specific systems and teach their teams to follow the established path will be an integral part of the new “tipping point”.

The forward thinking entrepreneurs will look for a complete system with an appealing approach to the marketplace. One where this approach indicated that the company has studied how successful organizations are managed in top producing areas all over the world and have taken the best of each, creating the complete system and the business model and system within succinctly defined and automated so one is able to replicate it and produce a stream of Clickbank for themselves.

Business partnering and coaching components assure that support will be there for those participating in the opportunity. You want to look for a high level of commitment to your success. This does not mean you get to join, relax, and watch your bank account grow. It doesn’t work that way. It means for those willing to take actionable steps to changing their lives, rolling up the sleeves and working to create Clickbank the rewards are exponential. Be self-motivated, be confident, and look for support.

In closing let me reiterate, for those longing for a strong sustainable income with the freedom most would not be able to comprehend, a well chosen network marketing opportunity is one of the fastest way to wealth. Next year will be the same as this year unless actionable steps are taken to change. In the words of a giant among giants, Walt Disney, “The way to get started is to quit talking and begin doing.” Beginning today will allow you tomorrow to celebrate your success.



Source by Nancy Quinlisk

Financial Freedom With MLM Marketing Home Business Opportunities

Is financial freedom possible? Would you like to achieve results others only dream of? Are you seeking a way to get financially free? There is a secret weapon to financial freedom used by the wealthy.

+ What it is to be financially free?
To define what exactly financial freedom means to you is part of the whole process of attaining financial freedom. Being financially free means different things to different people. I think we all agree that to be financially free and financially independent means to have more money coming in than going out.

To be financially free can be:
– To have paid for their house outright

– To pay for everything without depending on credit

– To have a property portfolio

– To have more money coming in than going out

– To earn a six figure income

To be financially free can mean these and many other things to you, however being financially free is to have more money coming in than going out. So how are we to achieve financial freedom?
+ Our options to achieve financial freedom
We seek to be financially free and in the quest for financial freedom we have many options to achieving this goal. Some people set up their own home businesses, while others invest in stocks. We could also invest in real estate or even create a budget and stick to it.

+ How MLM Network Marketing can make you financially free
By far the best kind of an opportunity with minimal risk I have found is with MLM Network Marketing. Some of the facts about MLM Network Marketing are that more millionaires are created in the the U.S. through MLM Network Marketing than any other way.

And why is this so? Imagine when you decide to purchase stocks or invest in real estate, you are at the mercy of someone else. With MLM Network Marketing opportunities it all boils down your commitment to the home business. You get a proven product and blueprint to implement to achieve success. And the success you achieve with MLM Network Marketing once it starts it continues to grow.

As you continue to read this article, you will find my resource box with a link that will take you to join the best MLM Network Marketing opportunity I have found. Success University also teaches you all of the tried and tested wealth principles known to man. Due to the way MLM Network Marketing is set up, once you have a team of a few people, you can really explode your results.

MLM Network Marketing promises us so much, and when we put in the effort – MLM Network Marketing can truly blossom into a regular and continuous stream of Work from Home. You also get to learn the steps to create a successful home business.

To your success,

Kozan Huseyin ~ Network Marketing Expert, Internet Marketer, Life Coach, Writer.



Source by Kozsun Huseyin

The four types of mini sites you can create and make money from


Mini-sites are growing up all over the web because they are so easy to set up and fast to provide a stream of develop. You can become a webmaster in a couple of weeks and learn how to create many mini websites for fun or for profit.

A mini-site is a two or three page website that is designed for a specific task: either to sell something, get a subscription or to make money as an affiliate for somebody else.

There are four types of mini-sites you can create, without knowing any code, which can bring you four different streams of internet income.

1. Creating a “1-page” sales letter mini-site. Obviously, this is the first type of website that you will think of. A “1-page” sales letter mini-site’s main purpose is to sell your own product, whether it is an ebook, some software or multi-media product. When finished, your mini-site contains your sales letter page and your order page where people can download the product they just purchased. If you already have templates of these two, you can create your mini-site in 10 minutes flat.

2. Creating an “affiliate showcase” mini-site. An “affiliate Showcase” mini-site is an organized page where you offer a list of products people can buy. An affiliate is where you advertise someone’s product and when someone buy’s it, thanks to your publicity, you get a percentage. The products you recommend to your potential clients need to be related to each other. For example, If you are in the health and fitness industry, you will recommend a weight loss ebook or a good fitness equipment guide. You can include private sites to get a coach and/or a specific program on fitness.

3. Creating a “simple newsletter” mini-site Newsletters serve several purposes. A newsletter will help you position yourself as an expert, help you build credibility and rapport. Setting up a simple newsletter mini-site has one purpose only: get as many subscribers as possible. When you position yourself as an expert through the different issues of your newsletters which you send out every week, two weeks or even every month, you can recommend products or services related to your niche market. That’s how you create another stream of income through newsletter or Ezine marketing.

4. Creating an “about me” page mini-site. An “About Me” page mini-site is simply a site where you will tell the world about yourself and your interests. On this page, you will set up links to your products, or newsletters to your affiliate’s products. By getting traffic to this kind of site, you can convert people into buyers and make another streams of internet income.

You don’t need to know programming. You don’t need to be a computer geek, buy expensive software, or pay outrageous fees to a webmaster. With professional-looking templates, you can set up a mini-site with graphics, headlines and a mini sales letter in about 3 hours. If you want to elaborate a more complicated mini-site with a long sales letter, some compelling graphics, powerful headlines and a subscription box that will help you generate leads like crazy, you would spend 2 to 3 days.




Source by Emmanuel Segui

What to Know About the Best Residual Income Opportunities 2014

What to Know About the Best Residual Income Opportunities 2014

In these modern times, most people only have one primary goal and that is to earn a substantial living. Being able to afford the basic necessities is important. Being able to afford the finest comforts in life is desired. This motivation to achieve a more-than-significant living is influencing people to try their luck at different opportunities, some of which can offer multiple income streams without a lot of effort.

What are Some of the Best Residual Income Opportunities 2014?

As people now have access to improved technological devices and platforms, some of the best income generating sidelines can be found online. One of these is blogging. For people who have devoted their time, effort, and opinions to blogging, may it be through reviewing restaurants, traveling, or product testing, it is like getting paid to keep a journal. The payments arrive in the form of advertising revenues.

Investing in the stock market is another viable option for an alternative income stream. These days, banks and external brokers handle all investing portfolios making the process easier for individuals. They simply have to make an investment based upon the agreed contract. There is good money to be made here but a significant risk is required.

For those interested in something different, there is networking. Networking concentrates on direct buying and selling. Products or services can be distributed and replenished under this particular business opportunity. The way to get clients starts with social media connections through sites like Facebook, Instagram, and Pinterest to name a few.

Taking Advantage of the Best Residual Income Opportunities 2014

It is the amount of money one desires that will determine which doors will be opened and how many of them will be considered. As many as three income sources can be combined at a time, one primary the other secondary. The secondary sources will fund one’s residual income account. These will take several hours a week and will demand less effort than a full-time employment commitment.

Now that different earning opportunities are available, people should take advantage of them. The three options that were previously mentioned are great starting points. With enough time and experience, they can easily turn into more permanent solutions for one’s financial needs.

It is always important though to do research on the matter and find a reputable company or institution to work with. An informed decision will always lead to more fruitful returns.

Visit my site to see how I created a make money online through network marketing.



Source by Oliver

MLM News-An Independent Kelly's Kids Income Opportunity Review

If you have a strong desire to build a home based business and love shopping for childrens clothes, you might want to check out a company named ‘Kelly’s Kids’. Kelly’s Kids was founded in 1983 and specializes in providing quality clothing for children. The company also provides people with a direct sales and multilevel marketing opportunity. If you have experience in sales and marketing and a love for kids fashion, this might be the perfect fit for you.

Kelly’s Kids is the largest provider of kids clothes in the direct sales industry, and they have built an excellent reputation and a strong brand. Their commitment to providing quality kids clothes has kept them at the top of their game for over 25 years now.

There is no cost to start a home based business with Kellys Kids, and all the marketing material is provided by the company. But, there is a small seasonal registration fee. To start your business you will simply invite friends, family, and other associates to your home and present your clothing products during the summer and winter seasons. The company does limit the amount of parties you can have when you are new in the business. But once you establish yourself as a distributor you are allowed to have as many as you want.

At the start of your marketing career, most of the money you make will come from commissions on personal sales. But as more people that you introduce to the business join you in your efforts, you will begin to make a residual or ‘passive’ income.

Having a background in sales and marketing is a plus, but not a requirement to succeed in multilevel marketing. It really just takes a firm commitment to gaining the skills necessary for success in the industry.

But, if you have no prior business experience, there are some issues that you need to be aware of. It’s a cold fact that most that attempt to start a home based business and reach financial independence fail. The reasons for the grim statistics can vary from person to person. But there is always one common denominator that links all the failures together.

To get to the level of successful home based business entrepreneur requires alot of hard work and long hours. Most people just don’t understand that this is a business that is not to be treated as a part time hobby. And that’s why so few in this industry reach their goals.

If your in the business for fun and just want to make a few bucks, treating this opportunity like a hobby is fine. But if you want to “fire your boss” and earn a full time income from the comfort of your home, it will require a good amount of investment of time and money.

These are just the cold, hard facts that people with an ’employee mindset’ refuse to accept. Being a true entrepreneur requires a willingness to take risk. Be willing to take risks, and you will get the reward.



Source by J. Elias

Why a High Income Taxpayer Shouldn't Have a 401K

Conventional wisdom says that a high-income taxpayer should contribute the maximum amount to their 401k plan. True, it does decrease their current taxable income (the contributions to 401k are deductible against earned income), but it can cause a major tax headache later.

First, the assumption is that their income will go down in the future (but it could go up for a number of reasons). If they listen to most advisors, they state that that people’s income will always go down when they retire.

But, there are some people who plan to retire with more income than they have now. For them, a 401k plan that defers tax to a later date doesn’t make sense. They’ll make more money—which mean they’ll pay more tax!

Not to mention that it’s very likely that taxes will increase in the not too distant future. Why pay tax purposely at a higher rate?

The second reason why a 401k plan doesn’t make tax sense for a high-income taxpayer has to do with how we pay income tax. There are three types of income: earned income (you work for your money), author_link (your investments work for you), and portfolio income (your money works for you).

Portfolio income is primarily from capital gains, which is typically the type of income you will earn from investments. The capital gains tax rate is roughly 20 percent. However, the federal tax rates for earned income (ordinary income) can be as high as almost 40 percent.

If the high-income taxpayer holds their investments outside of a 401k, the tax rate on gains would be roughly 18 percent to 20 percent. If, however, they hold these investments inside a 401k, the tax is deferred until they withdraw the income. That withdrawn income is ordinary income, taxed at the highest rate.

That means a 401k plan doubles their tax rate from the capital gains rate (18-20 percent) to the ordinary tax rate (roughly 38 percent).

Even worse, let’s assume that the person dies with money still within their pension plan. Upon their death, the pension plan is taxed for income and estate taxes. The total tax on an average estate would be 75 percent.

For example, if that person’s pension plan started out with $100K and grows to $400K, this means that only $100K is available for their heirs. The net gain on this 401k plan plan (which quadrupled in amount) is actually zero!

There might be benefit to deferring tax to the future, but you must make sure that the solutions support the goals for the future. Don’t settle for conventional advice from conventional advisors.



Source by Brittany Andrews